JAKARTA (Yosefardi) – Investors continued selling off local stocks on Monday (October 13), dragging down the composite index of the Indonesia Stock Exchange (IDX) by 1% to close at 4913.
Asia-Pacific shares outside Japan also fell 0.8% to its lowest in almost seven months before paring losses. Japanese markets were closed for a public holiday, Reuters reported.
Investors have been cutting their exposure to riskier assets on worries about the impact of the U.S. Federal Reserve ending its bond-buying stimulus later this month, mounting risks of recession in the euro zone and a floundering Japanese economy.
At domestic front, investors trading mood is still affected by political risk factors. Trading would be remain volatile ahead of the inauguration of new president on October 20.
Coal stocks led the market’s fall. Adaro Energy dropped 7.34%, Bumi Resources lost 6.29%, Bumi Resources Minerals shed 3.68%, Delta Dunia declined 5.08%, and Berau Coal Energy down 1.82%.
Trading in thin value, Bukit Asam fell 4.88%, Indo Tambangraya lost 6.8%, Harum Energy shed 4.79%, and Indika Energy dropped 4.32%.
Other losers were Astra International (-2.3%), Multipolar (-5.35%), and Adhi Karya (-2.69%). While BW Plantation jumped 8.1%, Wijaya Karya gained 1.17%, and Matahari Putra Prima rose 2.83%.
Nymex’s crude oil fell 1.84% to US$84.24 per barrel while gold rose 0.65% to US$1,230.80 per ounce. The rupiah strengthened slightly to Rp12,202 against the US dollar.